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Old 09-01-2005, 10:03 AM   #43
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I went into town last night to do some banking, and most of the gas stations had posted prices around $1.25 per litre. One station was still at $.98.5 and people were lined up for gas. I had never seen anything like it before. I was down to about 3/4 tank in the truck, so I pulled in even if just for the novelty of paying less than a buck a litre one last time. Most people were there just doing the same as I was, just topping up and joking around while wondering out loud where it was going to end. There were a few people that looked half-panicked as they filled one after another jerry can, like the end of the world was upon us. I guess it takes all kinds. P.
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Old 09-01-2005, 11:00 AM   #44
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I'm gettin' a street legal electric golf cart.
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Old 09-01-2005, 12:21 PM   #45
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Quote:
Originally Posted by Rivetedude
I'm gettin' a street legal electric golf cart.
You don't even need to do that - I just bought this vintage Vespa off craigslist yesterday. It's a 1966, carries two people, I'm getting front and rear racks to hold groceries, and the best part is... I'll get 90 miles per gallon.

That's 300 miles on 7 bucks!
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Old 09-01-2005, 01:02 PM   #46
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This AM, the corner station has 87 octane at 3.17/gallon...and word is that it will rise another .20 in the coming days, and even more beyond that......
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Old 09-01-2005, 01:11 PM   #47
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ugh!

We've got 87 at two of the stations on I-20 in Weatherford, TX at $3.29 as of yesterday afternoon. Oddly enough, five miles further west it is $3.00.
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Old 09-01-2005, 01:20 PM   #48
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As I understand it there are 30,000,000 barrels of oil in reserve with the oil companies here.This does not count the Federal Governments resevres which are over 100,000,000 barrels.
Oil has escalated over 700% in the past years, and the Saudis and Opec boys are getting fatter by the day. Shell, Bp, Exxon all of them we know are raping us. The rigs in the gulf that were damaged or shut down are responsible for a mere few hundred thousand barrels of oil, which hurts but not as much as the panic is hurting.

Our gas prices in Atlanta were around 2.70 for regular in the suburbs, but the panic yesterday drained many stations of all but...of course...premium. I did find at 6:15 am this morning a BP with all three grades, and the above 2.79 price.
Everyone keeps asking me where I am going next in my RV ( ouch!) and I tell them, the same place they're going in that Ford Excursion they're driving.

This period will end, but my gut feeling is that gas prices will never come down much. Maybe back to that 2.00-2.50 range.
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Old 09-01-2005, 04:19 PM   #49
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I think most of the problem is that gas is priced to sell by its replacement cost, rather than its cost in the tank, and this is a rational response to volatile markets. We also saw this happen in supermarkets in the 70's when inflation was so rampant. It was common to see higher price labels placed on top of previous ones.

I think supply is so close to capacity right now, that any shock that looks like it will impact supply will cause precisely what is happening now. Another kind of shock is the temporary increase in demand when we all fill our tanks to be sure we don't get caught short. This is a purely rational response. However, the effect of what we have done is to reduce the amount of fuel available to everyone else.

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Old 09-01-2005, 05:00 PM   #50
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Guys,

The rise in gasoline prices also reflects an increase in the taxe revenue, both local and federal.
You might also call this a form of rationing. As the prices rise fewer people will invest in the product.
Sorry if this is a duplicate comment. I didn't read back
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Old 09-01-2005, 05:01 PM   #51
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driving home this evening, on a major road here. All the gas stations were out of gas ( about 10 of them) except for BP which was 3.16 for regular. It was 2.79 this a.m.
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Old 09-01-2005, 05:10 PM   #52
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Originally Posted by ALANSD
driving home this evening, on a major road here. All the gas stations were out of gas ( about 10 of them) except for BP which was 3.16 for regular. It was 2.79 this a.m.
And how fast were people driving? That the amzing thing. Traffic here in the NE seems to still be 75mph.
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Old 09-01-2005, 05:21 PM   #53
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same as usual. The panic attack in Atlanta area yesterday drained the gas supply. We are told it iwll be back to normal on the weekend. But I don't expect any price drop under $3.00
Glad I don't have to fill up my 65 gallon motohome tank. Wish I had about a week or two ago, though.
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Old 09-01-2005, 05:23 PM   #54
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Anyone cancel plans this holiday weekend due to concerns about gas availability or prices?

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Old 09-01-2005, 05:34 PM   #55
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not me, I never go anywhere on the holiday weekends, Everyone leaves town and it gets real nice and quiet here. I even do New Years Eve a week later.
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Old 09-01-2005, 06:29 PM   #56
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I did, primarily because we are busy helping family that is displaced from New Orleans. However the gas prices are not helping. I'm sure happy that we have a 42 MPG VW Jetta TDI that I can use for daily driving.
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